Shore United Bank Mortgage Rates, Fees & Info

Easton, MD

LEI: 54930009M8OIJWECQX81

Tax ID: 52-0267925

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Mortgage Data

Bank Data

Review & Overview

Shore United Bank is a smaller bank specializing in Home Purchase and Refi loans. Shore United Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Baltimore, Easton, Salisbury, and Dover among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Shore United Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.69% 4/21/24
30 Year Conventional Refi 6.38% 4/21/24
30 Year Cash-out Refi 6.88% 4/21/24
30 Year FHA Purchase 7.30% 4/21/24
30 Year FHA Refi 6.66% 4/21/24
30 Year VA Purchase 6.47% 4/21/24
30 Year VA Refi 6.77% 4/21/24
30 Year USDA Purchase 6.68% 4/21/24
30 Year USDA Refi 6.27% 4/21/24
15 Year Conventional Purchase 6.41% 4/21/24
15 Year Conventional Refi 5.58% 4/21/24
15 Year Cash-out Refi 5.58% 4/21/24
15 Year VA Purchase 6.29% 4/21/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Shore United Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Shore United Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

187

Origination Dollar Volume (All Markets)

$80,245,000

Employee count

287

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9 $21,515,000 $2,390,556 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 28 $18,010,000 $643,214 $0 0.00%
Easton, MD (FHA|USDA|VA) 49 $13,645,000 $278,469 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 33 $13,585,000 $411,667 $0 0.00%
DOVER, DE (FHA|USDA|VA) 39 $6,565,000 $168,333 $0 0.00%
Outside of Metro Areas 20 $3,770,000 $188,500 $0 0.00%
Cambridge, MD (FHA|USDA|VA) 8 $2,650,000 $331,250 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Shore United Bank's top markets include Philadelphia, Baltimore, Easton, Salisbury, and Dover among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Shore United Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 187 $80,245,000 $429,118 $0 0.00%

    For 2020, Shore United Bank's most frequently originated type of loan was Conventional, with 187 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $36,445,000 $383,632 $0 0.00%
    Refi 46 $31,390,000 $682,391 $0 0.00%
    Cash Out Refi 29 $10,415,000 $359,138 $0 0.00%
    Other 9 $1,325,000 $147,222 $0 0.00%
    Home Improvement 8 $670,000 $83,750 $0 0.00%

    For 2020, Shore United Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $80,245,000 $429,118 $0 0.00%

    For 2020, Shore United Bank's most frequently cited loan duration was Other, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 70 $9,580,000 $136,857 $0 0.00%
    $200k-400k 45 $12,785,000 $284,111 $0 0.00%
    $100,000 or less 31 $1,915,000 $61,774 $0 0.00%
    $400k-600k 17 $8,365,000 $492,059 $0 0.00%
    $600k-1MM 15 $11,725,000 $781,667 $0 0.00%
    $1MM+ 9 $35,875,000 $3,986,111 $0 0.00%

    2020 saw Shore United Bank place emphasis on $100k-200k loans with 70 originations, totaling $9,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 30 $18,950,000 $631,667 $0 0.00%
    $100k-150k 26 $5,710,000 $219,615 $0 0.00%
    $50k-75k 26 $3,370,000 $129,615 $0 0.00%
    $50k or less 25 $2,795,000 $111,800 $0 0.00%
    $150k-250k 20 $5,980,000 $299,000 $0 0.00%
    $75k-100k 10 $2,140,000 $214,000 $0 0.00%

    Shore United Bank lent most frequently to those with incomes in the $250k+ range, with 30 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 187 $80,245,000 $429,118 $0 0.00%

    Shore United Bank lent most frequently to those with DTI ratios of Exempt%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 46 $40,330,000 $876,739 $0 0.00%
    White 129 $36,325,000 $281,589 $0 0.00%
    Not provided 11 $3,565,000 $324,091 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.53%

    Shore United Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.73%

    Shore United Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 187 $80,245,000 $429,118

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $32,640,000 $2,720,000
    Single Family (1-4 Units):Manufactured 12 $1,110,000 $92,500
    Single Family (1-4 Units):Site-Built 163 $46,495,000 $285,245

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Shore United Bank 1013 S. Talbot Street St. Michaels, MD 21663 Full Service B&M $89,755
    Shore United Bank 109 N. Commerce Street Centreville, MD 21617 Full Service B&M $144,113
    Shore United Bank 1101 Maiden Choice Lane Baltimore, MD 21229 Full Service B&M $131,572
    Shore United Bank 120 Main Street Felton, DE 19943 Full Service B&M $55,356
    Shore United Bank 12905b Ocean Gateway Ocean City, MD 21842 Full Service B&M $11,677
    Shore United Bank 18 Dover Street Easton, MD 21601 Full Service B&M $349,648
    Shore United Bank 202 Pullman Crossing Grasonville, MD 21638 Full Service B&M $25,067
    Shore United Bank 210 Marlboro Road Easton, MD 21601 Full Service B&M $116,876
    Shore United Bank 22151 Wes Street Ridgely, MD 21660 Full Service B&M $30,803
    Shore United Bank 25306 Lankford Hwy Onley, VA 23418 Full Service B&M $7,854
    Shore United Bank 2609 Centreville Road Centreville, MD 21617 Full Service B&M $40,413
    Shore United Bank 300 Castle Marina Road Chester, MD 21619 Full Service B&M $32,464
    Shore United Bank 408 Thompson Creek Road Stevensville, MD 21666 Full Service B&M $86,366
    Shore United Bank 424 Dorchester Avenue Cambridge, MD 21613 Full Service B&M $34,428
    Shore United Bank 4580 S Dupont Hwy Camden, DE 19934 Full Service B&M $23,689
    Shore United Bank 6050 Marshalee Drive Elkridge, MD 21075 Full Service B&M $36,584
    Shore United Bank 698a North Dupont Highway Milford, DE 19963 Full Service B&M $32,582
    Shore United Bank 800 S. Governors Avenue Dover, DE 19904 Full Service B&M $33,280
    Shore United Bank 8275 Elliott Road Easton, MD 21601 Full Service B&M $77,275
    Shore United Bank 850 South 5th Ave Denton, MD 21629 Full Service B&M $47,115
    Shore United Bank 899 Washington Avenue Chestertown, MD 21620 Full Service B&M $57,807
    Shore United Bank 9612 Reisterstown Road Owings Mills, MD 21117 Full Service B&M $43,979

    For 2020, Shore United Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $59,677
    Net interest income $53,119
    Total noninterest income $10,196
    Gross Fiduciary activities income $1,017
    Service charges on deposit accounts $3,023
    Trading account gains and fees $0
    Additional Noninterest Income $6,156
    Pre-tax net operating income $22,243
    Securities gains (or losses, -) $374
    Income before extraordinary items $16,957
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,957
    Minority interest net income $0
    Net income $16,957
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,661

    Shore United Bank's gross interest income from loans was $59,677,000.
    Shore United Bank's net interest income from loans was $53,119,000.
    Shore United Bank's fee based income from loans was $3,023,000.
    Shore United Bank's net income from loans was $16,957,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,558
    Provision for credit losses $3,900
    Total noninterest expense $37,172
    Salaries and employee benefits $21,047
    Premises and equipment expense $4,132
    Additional noninterest expense $11,993
    Applicable income taxes $5,660
    Net charge-offs $519
    Cash dividends $0

    Shore United Bank's interest expense for loans was $6,558,000.
    Shore United Bank's payroll and benefits expense were $21,047,000.
    Shore United Bank's property, plant and equipment expenses $4,132,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,717,357
    Deposits held in domestic offices $1,717,357
    Deposits by Individuals, partnerships, and corporations $1,663,794
    Deposits by U.S. Government $133
    Deposits by States and political subdivisions in the U.S. $53,430
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $955,358
    Demand deposits $955,358
    Nontransaction accounts $761,999
    Money market deposit accounts (MMDAs) $309,602
    Other savings deposits (excluding MMDAs) $177,916
    Total time deposits $274,482
    Total time and savings deposits $761,999
    Noninterest-bearing deposits $509,116
    Interest-bearing deposits $1,208,241
    Retail deposits $1,675,699
    IRAs and Keogh plan accounts $52,744
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,932,470
    Cash & Balances due from depository institutions $186,917
    Interest-bearing balances $170,251
    Total securities $206,669
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,440,368
    Loan and leases loss allowance $13,888
    Trading account assets $0
    Bank premises and fixed assets $29,718
    Other real estate owned $0
    Goodwill and other intangibles $19,237
    All other assets $49,561

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,932,470
    Total Liabilities $1,731,008
    Total deposits $1,717,357
    Interest-bearing deposits $1,208,241
    Deposits held in domestic offices $1,717,357
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $1,050
    Trading liabilities $0
    Other borrowed funds $4,874
    Subordinated debt $0
    All other liabilities $7,727

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,440,368
    Loan and leases loss allowance $13,888
    Total loans and leases (domestic) $1,454,256
    All real estate loans $1,211,534
    Real estate loans in domestic offices $1,211,534
    Construction and development loans $106,760
    Residential 1-4 family construction $14,854
    Other construction, all land development and other land $91,906
    Loans secured by nonfarm nonresidential properties $633,450
    Nonfarm nonresidential secured by owner-occupied properties $199,360
    Commercial real estate & other non-farm, non-residential $434,090
    Multifamily residential real estate $57,565
    1-4 family residential loans $385,977
    Farmland loans $27,782
    Loans held in foreign offices $0
    Farm loans $1,528
    Commercial and industrial loans $207,955
    To non-U.S. addressees $0
    Loans to individuals $31,466
    Credit card loans $0
    Related Plans $718
    Consumer Auto Loans $24,613
    Other loans to individuals $6,135
    All other loans & leases $1,773
    Loans to foreign governments and official institutions $0
    Other loans $190
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,108
    Non 1-4 family restructured loans & leases $1,463
    Total loans and leases (foreign) $0

    Shore United Bank had $1,440,368,000 of loans outstanding in 2020. $1,211,534,000 of loans were in real estate loans. $106,760,000 of loans were in development loans. $57,565,000 of loans were in multifamily mortgage loans. $385,977,000 of loans were in 1-4 family mortgage loans. $1,528,000 of loans were in farm loans. $0 of loans were in credit card loans. $24,613,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 403 $121,881 $302,434
    Nonfarm, nonresidential loans - <$100k 50 $2,079 $41,580
    Nonfarm, nonresidential loans - $100-250k 90 $11,602 $128,911
    Nonfarm, nonresidential loans - $250k-1MM 263 $108,200 $411,407
    Commercial & Industrial, US addressed loans - <$1MM 1,794 $116,594 $64,991
    Commercial & Industrial, US addressed loans - <$100k 1,371 $32,133 $23,438
    Commercial & Industrial, US addressed loans - $100-250k 252 $29,429 $116,782
    Commercial & Industrial, US addressed loans - $250k-1MM 171 $55,032 $321,825
    Farmland loans - <$1MM 25 $3,304 $132,160
    Farmland loans - <$100k 10 $373 $37,300
    Farmland loans - $100-250k 8 $978 $122,250
    Farmland loans - $250k-1MM 7 $1,953 $279,000
    Agriculture operations loans - <$1MM 18 $459 $25,500
    Agriculture operations loans - <$100k 14 $76 $5,429
    Agriculture operations loans - $100-250k 4 $383 $95,750